Real business-cycle theory (RBC theory) is a class of new classical macroeconomics models in which business-cycle fluctuations are accounted for by real...

months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Business cycles are usually thought of as...

Austrian business cycle theory (ABCT) is an economic theory developed by the Austrian School of economics seeking to explain how business cycles occur....

imperfections demonstrated with small models and new classical work on real business cycle theory that used fully specified general equilibrium models and used...

forces that drive business cycles; this empirical work has given rise to two main competing frameworks called the real business cycle model and the New...

macroeconomic schools of thought – new classical macroeconomics/real business cycle theory and early New Keynesian economics – into a consensus view on the...

employment, and other sources of disturbances, which is known as real business cycle theory. In the usual setup, time is continuous starting, for simplicity...

Macroeconomic theory has its origins in the study of business cycles and monetary theory. In general, early theorists believed monetary factors could not...

Freshwater theories New classical macroeconomics Homo economicus Lucas critique Efficient-market hypothesis Rational expectations Real business cycle theory Ricardian...

Rational expectations is an economic theory that seeks to infer the macroeconomic consequences of individuals' decisions based on all available knowledge...

available. As businesses face higher prices for underlying inputs, they are forced to increase prices of their outputs. It is contrasted with the theory of demand-pull...

1972) became known for his theories in planned economics. Other members, such as Erik Lundberg, continued as business cycle-oriented economists. Rudolf...

Cambridge cash balance approach to theory of money and influenced the trade cycle theory. Until the 1930s, John Maynard Keynes was also influencing the theoretical...

Business economics is a field in applied economics which uses economic theory and quantitative methods to analyze business enterprises and the factors...

revolutionized the online business as a whole, an example of a positive technology shock. Real business cycle theory (RBCT) is the theory where any type of shock...

is a mathematical tool used in macroeconomics, especially in real business cycle theory, to remove the cyclical component of a time series from raw data...

56-80. Lambert, Edward, “Modeling an Effective Demand Limit to the Business Cycle” Effective Demand blog. 12/28/2014. Lambert, Edward, “Synopsis of Effective...

left. In the General Theory, Keynes explained the Great Depression as a downward shift of the AD curve caused by a loss of business confidence and a collapse...

been 30 percent lower in 1937 than in 1933. Followers of the real business-cycle theory believe that the New Deal caused the depression to persist longer...

price level) back up to the long-term trend, following a dip in the business cycle. It is the opposite of disinflation, which seeks to return the economy...

estimates of real income per capita in 1870, biased Baumol's findings. DeLong concludes that there is little evidence to support the convergence theory. The key...

Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces. Endogenous growth theory holds that investment...

influence real activity in the economy, real business cycle theory ignores these effects. The theory also addresses the effects of monetary policy on real sectors...

an economy is more than aggregate supply. It involves inflation rising as real gross domestic product rises and unemployment falls, as the economy moves...

new Keynesian economics developed in the 1980s and earlier with Real Business Cycle Theory. RBC models were dynamic but assumed perfect competition; new...

1963. Friedman, Milton, and Anna Jacobson Schwartz, 1963a. "Money and Business Cycles", Review of Economics and Statistics, 45(1), Part 2, Supplement, p...

Dictionary of Economics, 2nd ed. • Thomas Cooley, ed., (1995), Frontiers of Business Cycle Research, Princeton University Press. Description and preview. ISBN 0-691-04323-X...

inflation, but are also part of real output and productivity. Economics portal Price index Equation of exchange Quantity theory of money Wage level SAMUELSON...

of business cycle theory and monetary theory. William Stanley Jevons was one of the pioneers of the first tradition, whereas the quantity theory of money...

the money into goods via payment. According to proponents of modern money theory, fiat money is also backed by taxes. By imposing taxes, states create demand...